£250,000 funding gets Coptrz off the ground

£250,000 funding gets Coptrz off the ground

Martek Marine Ltd, a South Yorkshire-based manufacturer and distributer of marine equipment has launched a new drone manufacturing division under the brand name Coptrz after £250,000 funding.

Martek, already a globally established brand, has set up Coptrz after identifying a gap in the market for a commercial drones which could be used in a variety of sectors and industries throughout the world, including marine and emergency services.

The funding, provided by HSBC, has allowed Corptrz to invest in the manufacturing and marketing of its products and to focus on increasing its exports into Europe, as well as consolidating its market share in the UK.

The business is expected to increase turnover to a projected £1.7 million in its first year, rising to £5 million the following year.

In addition, the funding package has facilitated the recruitment of two new members of staff who have joined the existing Coptrz team at its Rotherham headquarters to ensure the business keeps up with expected increase in demand.

The business is expected to grow its team further as it boosts its market share.

Steve Coulson, director at Martek Marine Ltd, said: "After extensive research, we have identified the significant potential for growth in this market.

"The funding package from HSBC has been instrumental in ensuring Coptrz has a solid start. The bank’s support and international reach has also allowed us to begin implementing our export strategy and to recruit the talent we need to make Coptrz a successful part of the wider Martek Marine business."

Mike Swift, area director for West and South Yorkshire, said: "We have worked with Coptrz from the beginning and it is an excellent example of a UK business having both innovative products and an export-led growth strategy.

"The finance package has supported the business in pushing forward into different international markets such as Germany, USA and the Far-East by assisting with its international travel and direct sales costs. We look forward to seeing their business thrive"